Chart Of Accounts-Account Balance

Question 1

Acct. Balance

Accounts Payable

Answer 1

Credit

Question 2

Acct. Balance

Accounts Receivable

Answer 2

Debit

Question 3

Acct. Balance

Accumulated Depreciation-Buildings

Answer 3

Credit

Question 4

Acct. Balance

Accumulated Depreciation-Equipment

Answer 4

Credit

Question 5

Acct. Balance

Administrative Expenses

Answer 5

Debit

Question 6

Acct. Balance

Allowance for Doubtful Accounts

Answer 6

Credit

Question 7

Acct. Balance

Amortization Expense

Answer 7

Debit

Question 8

Acct. Balance

Bad Debts Expense

Answer 8

Debit

Question 9

Acct. Balance

Bonds Payable

Answer 9

Credit

Question 10

Acct. Balance

Buildings

Answer 10

Debit

Question 11

Acct. Balance

Cash

Answer 11

Debit

Question 12

Acct. Balance

Common Stock

Answer 12

Credit

Question 13

Acct. Balance

Copyright

Answer 13

Debit

Question 14

Acct. Balance

Cost of Goods Sold

Answer 14

Debit

Question 15

Acct. Balance

Depreciation Expense

Answer 15

Debit

Question 16

Acct. Balance

Discount on Bonds Payable

Answer 16

Debit

Question 17

Acct. Balance

Dividends

Answer 17

Debit

Question 18

Acct. Balance

Dividends Payable

Answer 18

Credit

Question 19

Acct. Balance

Equipment

Answer 19

Debit

Question 20

Acct. Balance

Freight-out

Answer 20

Debit

Question 21

Acct. Balance

Gain on Disposal of Plant Assets

Answer 21

Credit

Question 22

Acct. Balance

Goodwill

Answer 22

Debit

Question 23

Acct. Balance

Income Summary

Answer 23

Credit -> Net Income; Debit -> Net Loss

Question 24

Acct. Balance

Income Tax Expense

Answer 24

Debit

Question 25

# Acct. Balance Income Taxes Payable

Answer 25

Credit

Question 26

# Acct. Balance Insurance Expense

Answer 26

Debit

Question 27

# Acct. Balance Interest Expense

Answer 27

Debit

Question 28

# Acct. Balance Interest Payable

Answer 28

Credit

Question 29

# Acct. Balance Interest Receivable

Answer 29

Debit

Question 30

# Acct. Balance Interest Revenue

Answer 30

Credit

Question 31

# Acct. Balance Inventory(Non-Perodic System)

Answer 31

Debit

Question 32

# Acct. Balance Inventory(Perodic System)

Answer 32

Debit & Debit

Question 33

# Acct. Balance Land

Answer 33

Debit

Question 34

# Acct. Balance Loss on Disposal of Plant Assets

Answer 34

Debit

Question 35

# Acct. Balance Maintenance and Repairs Expense

Answer 35

Debit

Question 36

# Acct. Balance Mortgage Payable

Answer 36

Credit

Question 37

# Acct. Balance Notes Payable

Answer 37

Credit

Question 38

# Acct. Balance Patent

Answer 38

Debit

Question 39

# Acct. Balance Paid-in Capital in Excess of Par Value-Common Stock

Answer 39

Credit

Question 40

# Acct. Balance Paid-in Capitalin Excess of Par Value-Preferred Stock

Answer 40

Credit

Question 41

# Acct. Balance Preferred Stock

Answer 41

Credit

Question 42

# Acct. Balance Premium on Bonds Payable

Answer 42

Credit

Question 43

# Acct. Balance Prepaid Insurance

Answer 43

Debit

Question 44

# Acct. Balance Prepaid Rent

Answer 44

Debit

Question 45

# Acct. Balance Rent Expense

Answer 45

Debit

Question 46

# Acct. Balance Retained Earnings

Answer 46

Credit

Question 47

# Acct. Balance Salaries and Wages Expense

Answer 47

Debit

Question 48

# Acct. Balance Salaries and Wages Payable

Answer 48

Credit

Question 49

# Acct. Balance Sales Discounts

Answer 49

Debit

Question 50

# Acct. Balance Sales Returns and Allowances

Answer 50

Debit

Question 51

# Acct. Balance Sales Revenue

Answer 51

Credit

Question 52

# Acct. Balance Selling Expenses

Answer 52

Debit

Question 53

# Acct. Balance Service Revenue

Answer 53

Credit

Question 54

# Acct. Balance Short-Term Investments

Answer 54

Debit

Question 55

# Acct. Balance Supplies

Answer 55

Debit

Question 56

# Acct. Balance Supplies Expense

Answer 56

Debit

Question 57

# Acct. Balance Treasury Stock-Common

Answer 57

Debit

Question 58

# Acct. Balance Unearned Service Revenue

Answer 58

Credit

Question 59

# Acct. Balance Utilities Expense

Answer 59

Debit